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tv   FBN AM  FOX Business  January 8, 2019 5:00am-6:00am EST

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we thank you for being with us. ronna mcdone apples. thanks for joining us. tonight from n >> charles: former nissan chairman carlos ghosn in a tokyo courtroom denying the charges against him. it was the first public appearance since his arrest november 19th. we'll have a live report moments from now. lauren: plumb is planning a -- president trump is planning a prime time address to take his case for border security to the american people. cheryl: investors are watching the negotiations happening in beijing. s&p is up 10-point a 5. lauren: markets are watching a report that the u.k. and europe could delay britain's exit from the european union, green arrows
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across the board. cheryl: japan's nikkei is up almost 1%. lauren: tesla is involved in another self-driving car accident but this time the victim was not a person. "fbn: a.m." starts right now. cheryl: it's 5:01 in new york. it is tuesday, december 8th. excuse me, how about january 8th, everybody. you put it in the prompter. i read it. good morning, i'm cheryl casone. i wish it was december 8th. lauren: we could do christmas all over again. cheryl: i want to do christmas over and try to change the direction of the markets last month. lauren: breaking news overnight, former nissan chairman carlos ghosn declaring his innocence the his first public appearance since arrest in japan. cheryl: shawn mclain is live in
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japan for us. shawn, good morning. >> reporter: good morning. thank yothank you for having me. cheryl: carlos ghosn, from everything we read here, completely denying theal plea gatheallegations against him. he seems to be saying that this was all agreed to back in 2008, 2009, the personal investments that the company absorbed for him, these contracts. how is it playing out there, the story this morning? >> reporter: today we got our first chance to hear a detailed defense from carlos ghosn since he was detained back in november, last year. so it was really the first time we had a point by point rebutal of some of the things we heard from prosecutors and from within the company at nissan. and there's a couple things going on here. you mentioned the personal investments. that's the more serious charge the prosecutors brought against him, the so-called breach of trust. and there he's saying that the
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company stepped in to help him out, to deal with a problem that they sort of created on their own where he had has to be paid in dollars, but had to be paid in yen, so he had to hedge against it. he asked nissan to step in testimontemporarily which they d glad to do at the time. cheryl: the other part seems to be from what we're seeing here is the saudi businessmen that actually performed services, business services for nissan, that's part of the japanese prosecutor's case against mr. ghosn. they say he was doing a friend a favor but that doesn't seem to have been addressed as much when ghosn was in court. can you he'l elaborate on that? the prosecutors have been rather vague here. what they seem to be alleging is that the man who stepped in to bail carlos ghosn out eventually with a letter of credit, to help
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with the collateral on the f.x. contract that was hedging the yen salary, a saudi businessman eventually went into business with nissan in saudi arabia. carlos ghosn's assertion to counter the allegation is this was a proper business relationship and that the businessman was paid for the services that were provided that are well documented and well-known within nissan. prosecutors have to prove there was a idea pro quo here. it's -- quid pro quo here. cheryl: i have to ask about the bail situation. there's wire news crossing, some headlines, that he thinks it's going to be difficult to get carlos ghosn out on bail because normally if a defendant in japan denies the charges against him, they don't want to give that defendant bail and they normally don't. is that true? >> reporter: well, this is specifically pertaining to the allegation of breach of trust. breach of trust is quite a serious offense in japan and if
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there is a concern that the defendant might destroy evidence, which would be -- if he's not admitting to the crime, then it's harder for the defendant to get out of jail and ghosn's lawyer did say he expects it to be at least six months before he believes prosecutors will be ready for trial which is a long stay in jail for mr. ghosn. cheryl: thank you for clarifying that. it was great to have you on the show. please come back. thank you. >> reporter: thanks for having me. cheryl:.lauren: the partial got shutdown continues, president trump set to make a prime time address on border security tonight from the h oval office. cheryl: kristina partsinevolos has details from washington for us. >> reporter: expect a lot of news from congress. mike pence is set to come to capitol hill to meet with individual lawmakers as the shutdown becomes the third largest and longest shutdown in history. we know democrats did pass a
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spending bill to reopen the government but the white house vetoed that because there wasn't funding for the border wall. monday afternoon you had a democratic senator who said the shutdown is in the hands of the republicans. >> the senate just needs to pass the legislation that's sitting in the senate right now, that's already passed the house. i mean, literally mitch mcconnell has the keys to have a vote to reopen the government. now, if the president wants to veto that bill, that's fine. >> reporter: a complete opposite view from republican senator john cornyn. >> this is entirely consistent thrived and phony -- consistentd and phony crisis. mr. schumer and nancy pelosi want to deny president trump what he's asking for and they want to political benefit among their base for having done so. >> reporter: democrats suggesting individual spending bills to reopen the irs as well as the treasury department so
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americans can get their tax refunds on time. and in response on monday afternoon, the white house says don't worry, we have money within the budget office to provide that, so yes americans will get their tax refunds once they file. the main concern is border wall funding. there has been no agreement on the funding which is why the president will be spea speakingd addressing the nation and on thursday will head to texas. lots of news to digest. back to you guys. cheryl: fox business will take the president's speech live, 9:00 p.m. eastern time tonight. you can watch it right here on the fox business network. well, the u.s. and china resuming mid-level trade talks today with both sides expressing optimism for a deal. a fresh round of negotiations opened in beijing yesterday with a surprise appearance by china's vice premier, a sign viewed by american officials of china's seriousness here. the two-day meeting is first time the two have met
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face-to-face since they agreed to a temporary tariff truce in december. lauren: one of the issues on the table is china opening up the financial services sector to american banks. maria bartiromo spoke about that exact issue with jp morgan chase ceo, jamie die. maria: let me ask you about china. this is the subject of the day, certainly for this administration. has it impacted your business? >?the trade fight with china? >> not directly. the trade fight, there are legitimate complaints about trade with china which have been laid out by the administration. i think the chinese understand that. i think it's important we fix that. all the business people i know say it's got be fixed. i think we have generally the support of japan and europe of fixing it so we need to do that. lauren: you can hear more of the interview today on "mornings with maria" at 6:00 a.m. eastern time. cheryl: kim jong un is in china for a fourth time this year to meet with china's president, xi
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jinping. the visit comes ahead of a possible second summit with president trump. there was a lot of heavy security around the north korean leader. north korea recently said it would resume the nuclear buildup if the u.s. doesn't ease sanctions, something the united states says they won't do unless the north takes step to dismantle its nuclear stockpiles. lauren: kim being in beijing is a he reminder that we need china for other issues as well, like what's going on with north korea's nuclear weapons. last week, apple rocked the market when they reported slowing iphone sales. samsung is reporting the same. cheryl: tracy, good morning. >> reporter: samsung expects its fourth quarter operating profit will decline 29%, guidance that falls r far below analyst estimates. samsung said the estimated profit decline comes amid mounting macro uncertainties. the company blamed it on
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lackluster demand for memory chips and intensifying competition in the handset business. samsung reports its final results later this month. cheryl: a softening economy. speaking of the status of the soft bank l deal to buy most of wee works, big changes happening there. >> reporter: soft bank will no longer go through with the $16 billion investment in he wee work, the shared office space provider. instead, opting for a smaller 2 l billion dollars deal because of some market turbulence and opposition from investment partners, according to the wall street journal. soft bang i bank is already a mr investor in wee works. an announcement on the smaller deal could come as early as today. soft bank shares are down 18% from a year ago. lauren: tesla is involved in another self-driving car accident. this one is a little different. >> reporter: this time, the victim, a $2,000 per day
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rentable robot. the accident happened on a las vegas street outside the consumer electronics show when the promo bought reveale bot waa tesla model s as engineers transported the robot to the display booth. the robot stepped out of line, into the parking lot roadway where it was hit as we just saw by that tesla operating in autonomous mode. many are speculating maybe this was just an over-the-top p.r. stunt. cheryl: that poor engineer. look at him running over, like my poor robot. that poor guy, trying to take it to ces. >> we had someone say ces was boring. not after that. cheryl: there's a pretty good story and this is a big surprise. last night, the clemson tigers dominated theal bay ma crimson tide. -- alabama crimson tide.
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they captured the claim i don'tp title. the quarterback tore apart the alabama defense, throwing three touchdowns. the tigers are the first team in the a.p. poll era to finish a season 15-0. they crushed alabama, 44-16. we're going to have jared max coming up later on. but even he told us yesterday, lauren, that it was kind of expected alabama was going to be the big winner. boy, you've got to love college football. lauren: looking at three days of gains in a row, dow futures are now up 100 points, up 98 yesterday and up, well, a lot more than that back on friday after that jobs report. still ahead, president trump is betting on china's weak economy to push them to a deal. so with the tit-for-tat taking its toll on the u.s., who needs a trade deal more? will they get a deal done? and alexandria ocasio-cortez not
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mincing words on how she feels about president trump. >> do you believe president trump is a racist? >> yeah, yeah, no question. lauren: okay. now she's getting some advice from billionaire mark cuban. the bad habit he suggests she kick and kick now. you're watching "fbn: a.m.." ♪ all i'm asking is for a little respect when you come home. ♪ just a little bit. ♪ just a little bit. eels, saddl. that's why i switched to liberty mutual. they customized my insurance, so i only pay for what i need. i insured my car, and my bike. my calves are custom too, but i can't insure those... which is a crying shame. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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lauren: the u.s. and china back at the negotiating table today. can a trade deal be made by the march 1st deadline? we bring in tori white, trade economist at the heritage foundation. good morning. >> good morning. lauren: i'm curious, what constitutes a deal here? what sounds reasonable that both sides can agree on? >> well, here's the thing. i think it first starts out that both sides be willing to make concessions. that's why you see these meetings this week happening between he lower level staff with the foreign ministry in china. they're trying to figure out what's the starting point for the negotiations and how can they move forward. i think that if the u.s. is willing to reduce its tariffs that it's imposed thus far and china is willing to make reforms, especially with intellectual property rights, we can be in a big spot. lauren: is there a mechanism we can use to make sure china follows through on promises that it makes. it has made promises in the past
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but they don't enforce them. how do we make sure they follow through? >> that's the main crux of the problem. we need a two-pronged effort by the administration. not only do negotiations need to be going on continually which they should have been happening for last two and-a-half years, but the u.s. needs to remain strong when it comes to enforcing cfius review, when it comes to treasury sanctioning individuals and companies that steal u.s. in intellectual property. we need to work to keep the pressure on without tariffs. lauren: the futures are up this morning. we've had nice gains the past few days. it seems there's optimism building that something gets done by the march 1st dead loon. we havdeadline. they say china is si sincere abt properly reforming trade tensions on the basis of mutual
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benefit and re reciprocity. that's the first time they used reciprocity when talking about trade. are you opt particula optimisti? >> i think you're seeing a renewed sense of certainity. over the last few weeks, we've seen a lot of uncertainity in the market, not just trade related but also other issues. i think anything we can do to make sure that the future is going to be secure and that people and individuals and companies know that the lines of trade are going to be free and open between the us and china the future, that's going to help the market. lauren: it seems that the president license more to the china hawk, the u.s. trade representative, robert lighthizer than he does steven mnuchin. lighthizer is more hard on china. we believe next week at the meeting lighthizer will be there. what does that signal to you? does the trade deal get done next week maybe? >> the administration has named robert lierobert lighthizer as n
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the issue. the office of the united states trade representative is where bob lighthizer is from. it's expected that he should be the lead. it's good the administration has a point person on these issues. that can provide certainty for the negotiations. lauren: tori, thank you for your time. cheryl: investors are watching what is unfolding in beijing. right now, futures are pointing to a solidly higher open for your markets on this tuesday. dow up 113, s&p up 11 and nasdaq is up 28 and a quarter point right now. well, coming up, she cursed president trump, just days a after taking office. >> we're going to go in there, we're going to -- [bleep] cheryl: , now, the congresswoman is under fire for a new rant, this time she is upsetting even more people. you're watching "fbn: a.m." ♪ well, that will be the day
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cheryl: futures are watching beijing and we're looking at a higher open. dow up 104, s&p up 10 and-a-half. secretary pompeo heading to jordan for a tour of eight middle east nations. he is aiming to reassure ally that's the u.s. will not abandon the region after pulling troops out of syria. rashida tlaib being accused of making anti-semetic comments on a pro-israel bill. a charge that she is denying. tlaib criticized the bill that punishes countries that boycott israel. she said boycotting is a
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constitutional right. marco rubio called the comments from her an anti-semetic dog whistle. this accusation comes days after tlaib ripped into president trump calling for his impeach innocent a colorful way. mark cuban has advice for another freshman democrat, congresswoman alexandria ocasio-cortez. he says ditch the partisanship. he tweeted, be a radical, be different, it's your je your generation's turn to government but leave behind the partisan language behind. we're all in together. change the game, change the world. he was responding to a tweet in which ocasio-cortez told steve scalise that he worked for billionaire ceos that rip off the working people. that's what's happening now. lauren: that was good advice from mr. cuban. cheryl: that was very good add lies. lauren: futures are up, dow up 113, nasdaq up 27, despite a warning from samsung, tech is
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not under too much pressure today, still ahead this morning. the market volatility breathing new life into the housing market. we'll tell you why home buyers can finally catch a well-needed break. and this market's see saw made jeff bezos a happy man. why amazon can call itself the king of the tech titans. you're watching "fbn: a.m.." ♪ if i were the king of the world. ♪ tell you what i'd do. ♪ rs working out for everyone? i dunno. i'm still a little stressed about buying our new house. well, it's a good thing we don't have to worry about homeowners insurance. geico can help with that. we can get homeowners insurance help from geico? well, sure. and they could save us a bunch too. mmhmm? i'm starting to feel better already. get to know geico and see how much you could save on homeowners and condo insurance. so, they say that ai is the building block of the future.
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lauren: former nissan chairman in a tokyo courtroom denying the charges against him. it was the first public appearance since his arrest. cheryl: president trump plans a prime time address from the oval office tonight, taking his case for border security to the american people. lauren: investors keeping an eye on u.s. and china trade negotiations, dow futures up 116, nasdaq up 27. cheryl: and in europe, markets are watching a report that the u.k. and europe could delay
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britain's exit from the e.u. but right now, all of those markets are higher. cheryl: mixed in asia, nikkei up almost 1%. cheryl: all the market volatility may be bad for your stomach but it's been good for one sector that plenty of americans invest in. "fbn: a.m." continues right now. we are coming up on 5:30 here in new york. it's tuesday, january 8th. good morning. i'm cheryl casone. lauren: i think it's elvis' birthday. we'll talk about the king. cheryl: i'll google that while you're doing that. lauren: the japan judge says carlos ghosn should remain behind bars because he's a flight risk. nissan's ceo says the company's alliance with france's renault is not in danger at all. let's make sense of all this and
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the implications of it, tim higgins is the wall street journal tech and auto reporter. you're in vegas because you're going to ces. we'll get to that in a moment. what do you make of the future of the nissan, renault, mitsubishi alliance? >> reporter: what was remarkable, this is the first public appearance in almost two months. the first time we've been able to hear his defense for what has gone on. and he says he's been wrongly accused and unfairly detained. so any hopes that he would plead guilty to prosecutors in jail and get out, kind of go away quiet etly are evaporating and he seems to be digging in for a fight, giving fuel to comments made by his family previously that this is essentially a coupe attempt by the nissan executives. lauren: it's interesting here. mr. ghosn turned around nissan and renault, really remarkable progress in the auto industry. can he turn around his own
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fortune at this point? because i was looking up some numbers, tim and japan has a 99% conviction rate. how is mr. ghosn going to fight this? he could face a decade in jail. >> reporter: right. oftentimes with these cases executives plead guilty or -- to get out of jail and they leave the country. what's remarkable with his appearance before the court was oftentimes people don't do this, they don't request to hear what the charges are, why they're being detained. just doing that was remarkable. it was remarkable he put out a statement, a defiant tone, saying he's been wrongly accused. lauren: is this a warning to other executives doing business in japan? >> reporter: it's hard to say. he's oftentimes seen as one of the examples of a foreign executive who could do well in the country in an insular environment. his arrest and the accusations have really kind of blown that idea out of the water.
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underscoring how difficult it is for outsiders to kind of rise to the top. lauren: ces, what's hot, what's not, what do you think? >> reporter: i havthis is anothe of these years where google and amazon are fighting tooth and nail to get their voice assistance into more devices, buying up a lot of space and advertising locally here to make a splash. lauren: that's not a game changer. we've had echos and google homes for quite some time now. okay. they're getting more popular. but is there anything disruptive going on at ces? >> reporter: well, i think one of the big surprises this year is apple. apple's not a company that comes to ces but they're hanging over the whole show in part because they hung a giant banner, a giant billboard on the side of a hotel here, illustrating -- underscoring their privacy policies at a time when companies like google are under fire for the way that they treat users' data. then they surprised the world
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with some deals with l.g. and samsung to be in their tvs so samsung's going to have itunes in their tvs and l.g. is going to have apple's air play there as well so you can watch videos on the tv, so expansion of ecosystem for apple is very important as they try to rebound from the decrease in sales of their iphones around the world. lauren: tim higgins, thank you so much for covering all of those bases with us. enjoy your time in vegas and remember what happens in vegas stays there. see you, tim. stay with fox business for all of your ces coverage. liz klaman will report live from las vegas throughout the week. cheryl: i like the blackout curtains in tim's hotel room. and yes, today is elvis presley's birthday. you might be thinking your gambling with your investments lately but stocks are off to a solid start this year after record losses for 2018.
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will the gains in january so far lead to a strong performance for the year? something known as the january effect. let's bring in jeremy bryant, portfolio manager at grady investments. that was the thinking that the january effect would lead to -- that's how the market would play out for the year. is that relevant anymore, the january effect? >> yeah, we don't tend to put a lot of stock in seasonal trends in the stock market, whether that's the january effect or sell in may and go away and those types of things. we tend to be much more focused on what the fundamentals are saying and the company outlooks for the rest of year, that sets the tone for the remainder of the year, what are they guiding for 2019, what do they see in the marketplace and in the economy. cheryl: so i'd be happy to never use any of those cheesy statements ever again in my business news career which is almost at 20 years now, to be clear, especially the santa claus rally. let's talk about stocks that have been recovering. netflix just on friday gained like 20%.
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you had nvidia, technology names are coming back into favor. even twitter and amazon, these are massive jumps in stocks that were so beaten down and then of course if you're trying to maybe pick back names up, you have to ask yourself if now's the right time. there's a lot of unknowns for the market. >> absolutely. we're dealing with a lot of uncertainty. we'll know a little bit more in the next couple weeks as we start to get company earnings reports. but you are absolutely right. we had an over-sold condition in december that a lot of the rebound in january is just rehashing that and coming back from those levels. cheryl: we looked at -- we were looking at january 2018's performance for the s&p 500. again, talking about the january effect. the index had gained 5.6%. but again, down about 7% for the year. you have to wonder if the market has hit cap iitulation. are we ready to declare this yet
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or no? >> we're certainly -- at these levels, if our base case scenario, which is that we're in a slowing but not stopping environment and corporate earnings will look like medicine gel digit growth this year -- mid single digit growth this year, i think we're in a constructive area right now. cheryl: on the fed, that could be something that could be a volatile story for the year. do we hike, do we stay, do we cut. it's anybody's guess right now, jeremy. >> yeah, i mean, really it is anybody's guess right now. we follow what they communicate to us. they softened a little bit with regard to their stance. we're going off of them. but for how the rest of the year plays out, it is anyone's guess at this point. cheryl: get ready for another crazy year. jeremy, thank you very much for being here. >> thank you very much. lauren: which company for the first time ever has claimed the title of world's most valuable? cheryl: maybe a company you wouldn't think of. tracy has that story and other
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headlines. >> good morning. despite the turbulence we've seen for tech companies, amazon finished yesterday's session up 3.4% with a market cap of nearly $797 billion. it ended microsoft's weeks-long reign which finished up slightly with a value of $783 billion. here's how they are looking this morning, let's take a look at the charts. amazon is higher in premarket trading, microsoft also higher in premarket as well. cheryl: technology back but amazon really back. let's talk about this. we've had a lot of volatility in the markets. but that's been good for one sector we all know very well. >> yes, mortgage rates have dropped to around their lowest levels in eight months, giving a potential boost to the housing market after a rough several months. according to new data from freddie mac, the average rate for a 30 year fixed mortgage fell to 4.51%, matching the
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lowest level since last spring. that rate is still higher than its level of 3.95% from a year ago but it has fallen from a more than seven-year high last fall. cheryl.lauren: thank you. cheryl: we are counting the days down right now, the government shutdown is entering the 18th day today and there are no signs of it ending anytime soon. president trump will take his case for a border wall to the public with an oval office address to the nation tonight at 9:00 p.m. maria bartiromo spoke with jp morgan chase ceo jamie dimon about the shutdown and he blames both sides. >> this shutdown is not good. my bigger complaint is that america maybe because of bipartisan -- partisan politics has been unable to do a lot of things that need to be done. you had some tax reform and some regulatory reform. but infrastructure, we put a man on the moon in eight years, it
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takes 12 years to build a bridge. we don't have enough apprenticeship programs. we don't have a trade deal. we don't have an immigration deal. these things are holding back our country and hurting all americans. i really believe these are reasons we have 2% growth, not a new normal. our own bad policy. cheryl: wow. all right. well, you can hear a lot more of maria's interview with jamie dimon on "mornings with maria," throughout the show, starting at 6:00 a.m. eastern time. lauren: he said washington is getting in washington's own way. nasdaq is up 34. optimism on trade talks with china and a warning with samsung, keeping tech somewhat in check. and let's take a look at sports. a big night for college football with the championship game between alabama and clemson. jared max has all the highlights in just a bit. and you knew this was coming, a sports being broadcast with gambling front and center. we'll be right back.
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♪ a lot of guys try to catch her but she leads them on a wild goose chase now. ♪ and she'll have fun, fun, fun till her daddy takes her t-bird away.
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lauren: college football's national championship game, a major blowout. cheryl: a major surprise. jared max is here with the highlights.
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>> i thought alabama would have won last night. call it an orange crush by the clemson tigers, a third national title game between clemson alabama the last four years. alabama was favored to win. they stumbled out of the gate. the opening drive, the quarterback threw an opening interception. they got within 14-13. in the end it was all clemson as you see them celebrating, day is a big night in all for alabama. trevor lawrence, threw for 347 yards. a good night for clemson, i should say. cheryl: bad night for alabama. >> nfl, widespread reports say the green bay packers will hire matt lefleur for the new coach.
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don't look now, but spring training is a month away. david wright is unable to continue playing because of spinal issues, goes to the front office, so he's sticking around. as sports betting becomes more widespread, so does the way sports gets covered by the media. nbc washington plus, nbc sports washington plus will produce eight alternate game broadcasts with the washington wizards that will focus on gambling. friday's game against the bucs will be the first one, lots of information on the screens and also contests for viewers to win money, participating. should be interesting to see where this goes. never before had a coach or non-player been inducted to the college football hall of fame, until now. the good year blimp, a staple in sports coverage for more than 60 years, becomes an honorary hall of famer. did you see the half time show of the national championship game? lil wayne was performing.
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we had fun with this on twitter. he was compared to the ham burglar from mcdonald's. cheryl: laurenmcdon.lauren: mc--mcdonal. lauren: that's pretty good. >> the second one is school by o dressed up in women's wear. we hav two e.t.s this morning. cheryl: that game, i mean, wow. remember the tickets were discounted because there was like why go, alabama's going to kill them. >> clemson finally gets it. lauren: good story. jared max, catch sports reports on fox news headlines, 24/7 on sirius channel 115. cheryl: investors are watching what's happening in beijing. dow is up 137 now, s&p up 14, nasdaq up 33 3/4. president trump planning a prime time address to the nation tonight on the border crisis to
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push for a solution. >> the democrats need to stop the delay tactics. we need to work together and we're ready and willing. we've been ready and willing for weeks to ensure that we reopen the government and ensure that we also address the humannan -- humanitarian crisis. cheryl: we'll take a look at what's at stake for the he oval office address. the first ever recall of marijuana in the united states, you're watching "fbn: a.m." ♪ smoke on the water. ♪ fire in the sky. ♪ incomparable design makes it beautiful. state of the art technology makes it brilliant. the lexus nx, experience the crossover in its most visionary form. experience amazing at your lexus dealer.
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lauren: let's get you caught on what's happening now. futures are up, three days in a row, dow surging 132. john bolton has met with senior
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turkish officials to discuss the state of kurdish fighters in syria. recently bolton said ensuring the protection of the kurdish fight efforts is one of the conditions of the u.s. with drawing troops from syria. the turkish president calling bolton's actions a sirius mistake. former democratic congressman from texas, bet bet beto o'rours planning to tour the united states to talk to voters as he eyes a possible 2020 presidential run. he plans to visit community colleges. he plans to document his jury jy through social need ya. michigan issued the first marijuana recall as a line of marijuana infused products hit store shelves before being tested. they were available in dozens of dispensaries around the state. it affects medical marijuana.
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recreational marijuana was approved in michigan in november. cheryl: president trump is set to take his case for a wall straight to the american people tonight with a prime time address, 9:00 p.m. eastern time. this is ahead of a trip back to the bor -- to the border later s week. democrats are continuing to fight against the deal of a wall. let's bring in michael banks. your thoughts on the president's decision to make a prime time address, which all of the broadcast and cable networks will be taking. does this surprise you? >> it indicates how sincere the president is about trying to t get this border wall and his willingness to go to all lengths possible to do so. and i think that this is the place where president reagan announced the challenger disaster in 1986 and so this is where you go to make a strong case, a serious and sober announcement and i think he's
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going to do that. i think the physicathe presidena strong case there's a national emergency. there's no doubt there's a humanitarian crisis. he's going to talk about crime, drugs, specifically fentanyl and the overdose crisis in the united states. he'll make a case. the he question is whether he'll have the legal authority to use military funds. i think ultimately where this is going, is he wants to compromise to get the government back open. cheryl: he's been talking about an emergency and executive order but it looks like he, from a legal perspective, he needs congress on-board with that and that is the problem is house democrats, they're not in charge of the house. i wonder if he's taking a political risk or image risk because nancy pelosi and chuck schumer want equal time. there's a statement we can show you right now, they issued a joint statement, they said basically we want equal time because if this president's address, if past statements are any indication they'll be full
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of malice and misinformation, democrats must be given equal air time. isn't this -- this is a he said, she said again, but they seem to have a point. >> i think that the president is going to look at the alternative legal authority to be able to go to that military construction approach to dealing with the wall and for that to occur, he's going to make a strong case for there to be a national emergency and so i think that the democrats will look politically, he's going to look to try to make ain a strong factual case. the question is legally whether he can use the funds for military construction, given the funds have to be spent to support troops in related to a deployment. i think that's where it's kicked to the courts so the president has time and can satisfy the 72% of americans who want a resolution to this government shutdown. cheryl: nobody likes a shutdown. it's political suicide. even susan collins of maine has been vocal about that, that
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nobody wants to see this happen. the president has come out and said in the past, this could be days, months, this could be years. again, it's the rhetoric -- is the rhetoric something that's going to hurt president trump if the shutdown continues? >> i think he's going to go to extraordinary measures to try to get the wall and that's what's going to count to his base and to the people who are critical on the right. i think some people who are really super critical on the right are never going to be pleased until they see the wall constructed across the entire southern border. i think he's going to look to the fact that the 72% of americans want the government back open and that he'll satisfy his base by going to the national emergency authority for military construction and that will get held up in the courts until potentially years from now. cheryl: exactly and then the fight continues. michael, thank you very much for being here. it's such a hot button issue right now. fox business is going to be covering the president's address, live tonight, 9:00 p.m. eastern time, watch it right here, folks. lauren: also watch the latest in brexit, will theresa may
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delay britain's exit from the european union? we'll get reaction when we return. ♪ (vo) here's a question. was it necessary to create a luxury car . . what do you think? ♪
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lauren: british and european officials reportedly discussing delay brexit from european union. you think peter they will go past the march deadline? >> well, i don't think there's much choice, really, basically what happens next week mp has chance to vote on this
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withdrawal agreement, the chance that they were denied in december and likelihood will do what they did last month and reject the deal which doesn't leave the government with many other options, they will ask for extension until they work out what they can do. cheryl: this is going to kick the can down the road, how closely by the way are you watching u.s.-china trade talks that are happening in beijing? >> obviously something that we are keeping our eyes on and i don't imagine big break this week, but it's positive the two sides are talking. i do think that over the course of this year we will find resolution. i think the u.s. administration will probably want to hold china's feet to the fire a little bit longer. when it comes clear that sanctions are hitting u.s. companies likes of apple, i think at some point the u.s. might be prepared, okay, we have made a point, let's do a deal.
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lauren: peter dixon, thank you very much. cheryl: thank you for watching fbn:am, mornings with maria starts right now. ♪ >> live from san francisco at the jpmorgan healthcare conference. here is maria bartiromo with the special edition of mornings with maria. maria: good tuesday morning live from san francisco, thanks for joining us, tuesday january 8th, jamie dimon exclusive. i sit down with jpmorgan ceo about markets, the economy, a broad-range of topics including the possibility of a recession. >> the market will open up and take a deep breathe, it looks like they'll be growth, we will have slower growth, maybe expect it a couple of months ago. maria: exclusive interview with jamie dimon this morning. markets are off of the high and starting the morning stronger nonetheless ahead of second day of u.s.-china trade talks, take
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a look at market, up 152 points in dow jones industrial average, two-thirds of 1%, s&p up two-thirds of a percent, 16 points and nasdaq with 42 point move higher by 32 right now. major indices finished higher for second session in a row yesterday, also buying coming in in europe this morning take a look at numbers, european indices are also reacting, we have markets higher across the board with the ftse up 1 almost, cac quarante up better than 1% and dax index in germany 65 points two-thirds of 1% higher, mixed performance in asia. take a look at asian indices. carlos goshn is speaking out, former nissan chairman has appeared in japanese courtroom yesterday, what he said to the court and the world, coming up this morning. plus president trump will address the country tonight as government shutdown enters days

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